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Income Tax

Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.

Latest Articles


Is addition made on the basis of Form 26AS, Justified? Discussion between CA Mickey and CA Mini

Income Tax : Summary: Income additions by tax authorities due to discrepancies between a taxpayer’s declared income and the details in Fo...

August 21, 2024 333 Views 0 comment Print

FAQs on Income Tax e-Verification Scheme 2021

Income Tax : FAQs on e-Verification Scheme, 2021 provide general guidance in understanding procedures & processes of the e-Verification Scheme,...

August 20, 2024 8217 Views 0 comment Print

Recent clarification on income tax clearance certificate for all travelling abroad

Income Tax : Understand the amended Section 230 of the Income Tax Act, 2024, clarifying when a tax clearance certificate is required for Indian...

August 20, 2024 2556 Views 0 comment Print

Section 43B(h) Income-tax Act – Boom or doom for Industry and Trade

Income Tax : Section 43B(h) mandates tax deductions only on actual payments to MSMEs, effective April 2024. Explore its potential impact on ind...

August 20, 2024 1011 Views 1 comment Print

Scope of Income Tax Search Assessment – A Tabular Form

Income Tax : Discover the updated Income Tax assessment procedures for searches starting from September 2024, including tax rates, penalties, a...

August 19, 2024 1680 Views 0 comment Print


Latest News


Tax Audit Under Income Tax Act: Detailed Live Course with Practical Insights

Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...

August 19, 2024 1539 Views 0 comment Print

Join 5-Day Live & Online Income Tax Audit Course with Practical Examples

Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...

August 19, 2024 333 Views 0 comment Print

Live Course: Handling Faceless Income Tax Assessment with AI Tools like ChatGPT

Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...

August 19, 2024 630 Views 0 comment Print

Direct Tax Collections FY 2024-25 Reach Rs. 6.93 Lakh Crores as on 11.08.2024

Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...

August 13, 2024 264 Views 0 comment Print

FAQs on PFA & Defective for ITR 1 to 6 for AY 24-25

Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...

August 10, 2024 3108 Views 0 comment Print


Latest Judiciary


CIT(A) Can’t Dismiss Appeals for Non-Prosecution without examining merits

Income Tax : Bombay High Court rules that CIT(A) cannot dismiss appeals for non-prosecution. Tribunal's decision to restore appeal upheld....

August 21, 2024 57 Views 0 comment Print

Bogus Purchases: Bombay HC upholds addition of 12.5% of purchases

Income Tax : Bombay High Court upholds ITAT ruling in PCIT Vs SVD Resins, focusing on the legitimacy of purchase transactions and tax implicati...

August 20, 2024 213 Views 0 comment Print

Bombay HC Quashes Prosecution of Hubtown Ltd. Directors for TDS payment delay

Income Tax : The Bombay High Court dismisses criminal charges against Hubtown Ltd's directors for TDS payment delays, citing absence of require...

August 20, 2024 153 Views 0 comment Print

Vodafone Idea Not Required to Deduct TDS on Foreign Telecom Charges: SC

Income Tax : Supreme Court dismisses IT Dept's petition, ruling Vodafone Idea isn't liable to deduct TDS on payments to non-resident telecom op...

August 20, 2024 39 Views 0 comment Print

Deputy Commissioner of Income Tax held guilty u/s. 12 of Contempt of Courts Act, 1971

Income Tax : Allahabad High Court held Deputy Commissioner of Income Tax guilty under section 12 of the Contempt of Courts Act, 1971 and impose...

August 20, 2024 2073 Views 0 comment Print


Latest Notifications


President Assents Finance (No 2) Bill, 2024 i.e. Finance (No. 2) Act, 2024

Income Tax : On August 16, 2024, President Droupadi Murmu officially granted her assent to the Finance (No 2) Bill, 2024. With this move, the b...

August 18, 2024 1215 Views 0 comment Print

Finance (No. 2) Bill, 2024 – As Passed by Lok Sabha on 7.8.2024

Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...

August 13, 2024 3435 Views 0 comment Print

Guidelines for Handling High-Risk PAN Cases in Insight Portal

Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...

August 12, 2024 12546 Views 0 comment Print

Income Tax Exemption for UIDAI’s Specified Income 2024-2029

Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...

August 12, 2024 306 Views 0 comment Print

Income Tax Exemption for West Bengal Transport Workers Social Security Scheme

Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...

August 12, 2024 93 Views 0 comment Print


Notification: S.O.380 Date of Issue: 23/11/1978

November 23, 1978 288 Views 0 comment Print

Notification: S.O.380 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6(ii) of the Income-tax Rules, 1962, under the category of “Scientific Research Association” in the field of medical research, subject to the following conditions :– (1) That the institution will maintain a separate account of the sums received by it for scientific research in the field of medical research.

Notification: S.O.378 Date of Issue: 22/11/1978

November 22, 1978 244 Views 0 comment Print

Notification: S.O.378 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961. Institution Institute of Management Development, U. P., Lucknow.

Notification: S.O.377 Date of Issue: 22/11/1978

November 22, 1978 373 Views 0 comment Print

In continuation of this Department’s Notification No. 1346 F. No. 203/43/76-ITA.II, dated 5th June, 1976, it is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6(ii) of the Income-tax Rules, 1962, under the category of “Scientific Research Association” in the field

Notification: S.O.226 Date of Issue: 21/11/1978

November 21, 1978 220 Views 0 comment Print

Notification: S.O.226 In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Arulmigu Lakshminarasimhaswamy Temple, Polur, North Arcot District, to be place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section.

Notification: S.O.1203-2 Date of Issue: 21/11/1978

November 21, 1978 280 Views 0 comment Print

The Department of Revenue hereby amend the Notification No. 2186 (F. No. 203/19/78-ITA. II) dated the 25th February, 1978, as under :– This notification contains Corrigendum to Income-tax Act, 1961 carried out on 21st November, 1978 not reproduced here as it is already contained in the body of the Act itself

Notification: S.O.376 Date of Issue: 20/11/1978

November 20, 1978 217 Views 0 comment Print

Notification: S.O.376 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Agricultural Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961. Institution Agricultural Institute, Kosbad-Hill, Thana (Maharashtra).

Notification: S.O.225 Date of Issue: 20/11/1978

November 20, 1978 211 Views 0 comment Print

Notification: S.O.225 Central Government hereby notifies The Bombay Humanitarian League for the purpose of the said section for and from the assessment year 1974-75.

Notification: S.O.224 Date of Issue: 20/11/1978

November 20, 1978 319 Views 0 comment Print

Notification: S.O.224 In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Rama Nama Sankeertana Sangam, Vijaywada for the purpose of the said section for and from the assessment year 1977-78.

Notification: S.O.375 Date of Issue: 15/11/1978

November 15, 1978 465 Views 0 comment Print

It is hereby notified for general information that the institutions mentioned in the list have been approved by the Indian Council of Agricultural Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961. This notification will be effective from 14th March, 1978.

Notification: S.O.465 Date of Issue: 9/11/1978

November 9, 1978 721 Views 0 comment Print

Notification: S.O.465 It is hereby notified for general information that the following scientific research programme has been approved for the period specified below for the purposes of sub-section (2A) of section 35 of the Income-tax Act, 1961, read with rule 6(iv) of the Income-tax Rules, 1962, by the Secretary, Department of Science & Technology, New Delhi.

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